HSBC to Enter Georgian Market

HSBC has sought a banking license from the National Bank of Georgia (NBG), the NBG said on June 27.

?HSBC will receive a banking license in the nearest future,? the NBG said. It added that the bank had ?long-term plans? for operating in the Georgian market.

Headquartered in London, HSBC’s international network comprises over 10,000 offices in 82 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.

Economy Minister Giorgi Arveladze said on June 1 he expected up to USD 700 million to be invested in the Georgian banking sector this year.

This post is also available in: ქართული (Georgian) Русский (Russian)